Revenue and Sales Performance - For the six months ended June 30, 2022, the revenue from aluminum aerosol can sales was approximately HKD 112.7 million, a year-on-year increase of about 5.8% compared to HKD 106.6 million for the same period in 2021[8]. - The number of aluminum aerosol cans sold during the same period was approximately 55.6 million cans, down from 57.9 million cans in the previous year, indicating a decrease in sales volume[13]. - Revenue from the Chinese market accounted for approximately 89.9% of total revenue, up from 89.0% in the previous year, with sales to Chinese customers increasing by about 6.8%[14]. - The sales to overseas customers slightly decreased by about 2.9%, attributed to supply chain instability in China leading to order shifts to overseas competitors[14]. - Revenue for the six months ended June 30, 2022, was HKD 112,731,000, an increase of 5.4% compared to HKD 106,587,000 in the same period of 2021[65]. - Revenue from mainland China was HKD 101,378,000, up 6.3% from HKD 94,891,000 in 2021[96]. Profitability and Financial Performance - Gross profit for the same period was approximately HKD 29.7 million, a decrease of about 7.9% from HKD 32.3 million in the previous year, resulting in a gross margin decline from 30.3% to 26.4%[16]. - Profit before tax was HKD 14,692,000, a decrease of 5.5% from HKD 15,547,000 in the previous year[65]. - Net profit for the six months ended June 30, 2022, was approximately HKD 13.3 million, an increase of about 3.4% compared to HKD 12.9 million for the same period in 2021[23]. - The company reported a profit attributable to owners of approximately HKD 13.1 million for the six months ended June 30, 2022, resulting in basic and diluted earnings per share of HKD 0.015 and HKD 0.010, respectively[56]. - Total comprehensive loss for the period amounted to HKD 4,010,000, a significant decline from a comprehensive income of HKD 15,920,000 in the previous year[65]. - The profit attributable to equity holders of the parent for the six months ended June 30, 2022, was HKD 13,123,000, compared to HKD 12,712,000 for the same period in 2021, representing an increase of approximately 3.2%[106]. Costs and Expenses - The cost of sales for the six months ended June 30, 2022, was approximately HKD 83.0 million, representing 73.6% of the revenue, an increase from 69.7% in the previous year[15]. - Sales and distribution expenses for the six months ended June 30, 2022, were approximately HKD 3.4 million, a decrease of about 17.8% compared to HKD 4.1 million for the same period in 2021[20]. - Administrative expenses for the six months ended June 30, 2022, were approximately HKD 9.6 million, a decrease of about 4.1% from HKD 10.0 million in the prior year[21]. - Total employee benefits expenses increased to HKD 15,090,000 from HKD 14,686,000, an increase of 2.8%[99]. - Research and development costs increased to HKD 5,809,000 from HKD 5,353,000, reflecting a growth of 8.5%[99]. Assets and Liabilities - As of June 30, 2022, the group held net current assets of approximately HKD 141.1 million, up from HKD 130.1 million as of December 31, 2021[25]. - The current ratio as of June 30, 2022, was approximately 6.7, compared to 7.1 as of December 31, 2021[25]. - As of June 30, 2022, the debt-to-equity ratio was approximately -30%, an improvement from -31% as of December 31, 2021[30]. - Non-current assets decreased to HKD 235,504,000 from HKD 253,461,000 as of December 31, 2021[68]. - Current assets increased to HKD 165,661,000 from HKD 151,443,000 as of December 31, 2021[68]. - Total liabilities increased to HKD 24,588,000 from HKD 21,326,000 as of December 31, 2021[68]. Cash Flow and Financing - Operating cash flow for the first half of 2022 was HKD 10,845 thousand, down from HKD 12,456 thousand in the same period last year, indicating a decrease of about 13%[79]. - The company incurred a loss of HKD 17,115 thousand due to foreign exchange differences, impacting overall comprehensive income negatively[76]. - The company’s financing activities resulted in a net cash outflow of HKD 2,959 thousand, compared to HKD 17,995 thousand in the previous year, indicating a significant reduction in cash outflow[82]. - Financing costs for the six months ended June 30, 2022, were approximately HKD 18,000, a significant decrease of about 78.0% from HKD 82,000 in the same period of 2021[22]. Investments and Capital Expenditures - The group had no significant investments as of June 30, 2022, consistent with the previous year[38]. - The company engaged in forward procurement of aluminum ingots amounting to approximately RMB 7.3 million, including about 360 tons of aluminum ingots, as of June 30, 2022[34]. - Funds allocated for expanding production capacity totaled HKD 48 million, fully utilized by June 30, 2022[40]. - HKD 12 million was designated for establishing a new R&D laboratory, with HKD 3.3 million utilized and a remaining balance of HKD 8.7 million expected to be used by December 31, 2023[40]. - The company acquired assets at a cost of HKD 3,783,000 for the six months ended June 30, 2022, down from HKD 15,241,000 in the same period of 2021, reflecting a decrease of approximately 75.2%[109]. Shareholder Information and Equity - The total number of issued shares as of June 30, 2022, is 901,785,000 shares[140]. - The major shareholder, Mr. Lian, holds 660,546,000 shares, representing approximately 73.25% of the issued shares[140]. - Wellmass International Limited, wholly owned by Mr. Lian, holds 268,000,000 shares, accounting for approximately 29.72% of the issued shares[146]. - The company declared an interim dividend of HKD 0.29 per share for the six months ended June 30, 2022, compared to HKD 0.14 per share for the same period in 2021[173]. Corporate Governance and Committees - The audit committee was established on June 20, 2013, to oversee financial reporting and risk management[164]. - The remuneration committee, also established on June 20, 2013, is responsible for recommending compensation policies for directors and senior management[165]. - The nomination committee was formed on June 20, 2013, to review board structure and ensure balanced expertise among board members[166].
中国铝罐(06898) - 2022 - 中期财报